The importance of collecting data from different sources in any
business today has gained huge importance thanks to the different Data Analytics & Visualization Platform
and technological penetration in every sector. The logistics and supply
chain industry is no different and the domain-wide adoption of data analytics
is a testament to the possibilities the technology possesses. Until recent
times, the sector was lagging due to old machines and manual processes but
today, over 90% of the business owners feel that analyzing data is going to be
a critical success factor going forward.
It is important to use technology to make sense of the data and
analyze the trends and patterns to make informed business decisions. This is
where a robust data visualization platform is playing a key role in empowering logistics businesses by virtue
of a data revolution. In today’s article, we will look at how data analytics
tools can be leveraged by logistics and supply chain businesses to unlock hidden
insights that the data possesses.
Predictive
Analytics
One of the biggest advantages of being a data-driven business is
the ability to analyze the data to predict as accurately as you can. With
inter-connected machines capturing data in real-time, stakeholders can study
behavioral patterns and leverage them to fix any stop-gaps in the processes.
With the supply chain industry dealing with transportation, organizations are
relying on predictive analytics to determine the possible impact of factors
such as weather and find newer ways to reduce it. With data visualization software like ITLytics, any registered users can
quickly create charts and reports that showcase hidden insights.
Optimizing
Supply Chain
Data
analytics software is also
being used to manage everything about physical assets such as machines,
vehicles and the data collected from this internet-abled machinery is holds
key to better supply chain performance. Businesses are adopting technology to
track the performance of the machines, products, and last-mile delivery
vehicles. By monitoring the actions and analyzing the hurdles, businesses have
successfully managed to improve on-time delivery and shipment cycles.
Order
Processing Optimization
A lot of
data is collected by organizations from the ERP systems to streamline their sales operations.
With a large amount of data, it may become
difficult for users to make sense of numbers. With a powerful business
analytics tool, data can be easily imported into the system to accurately
analyze order processing patterns. Knowing where the sales cycle is taking a
longer time than need and finding innovative ways to fix the issues has a huge
impact on the business revenue in the long-term.
ITLytics is a dynamic data visualization platform that aims to
empower business in the logistics and supply chain domain to become successful
data-driven organizations. It knows more, you can contact ITCube for a demo and
know how the product can give your company a competitive advantage.